Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 10 Which of the following would make real GDP increase? Long-run aggregate supply shifts right. Long-run aggregate supply shifts left. Aggregate demand shifts right.

image text in transcribed
image text in transcribed
QUESTION 10 Which of the following would make real GDP increase? Long-run aggregate supply shifts right. Long-run aggregate supply shifts left. Aggregate demand shifts right. Aggregate demand shifts left. QUESTION 11 Suppose a stock market boom makes people feel wealthier. The increase in wealth would cause people to increase consumption, which shifts the aggregate demand curve right. @ increase consumption, which shifts the aggregate demand curve left. decrease consumption, which shifts the aggregate demand curve right. decrease consumption, which shifts the aggregate demand curve left. QUESTION 12 The sticky wage theory of the short-run aggregate supply curve says that when prices fall unexpectedly, the real wage rises, so employment rises. rises, so employment falls. @ falls, so employment rises. falls, so employment falls

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Economics

Authors: Barry Field, Martha K Field

5th Edition

0073375764, 9780073375762

More Books

Students also viewed these Economics questions

Question

2. To store it and

Answered: 1 week ago